China slow to ramp up U.S. soybean purchases
China’s appetite for U.S. ag products seems to be growing, but soybeans haven’t been the main course.
The USDA says Beijing made its largest purchase of U.S. corn on record Monday at 1.76 million tons, following up on last week’s buy totaling 1.36 million.
Minnesota Soybean Growers Association president Jamie Beyer tells Brownfield she doesn’t understand why soybeans have taken a back seat, especially when considering the price advantage the U.S. currently holds over its South American competition.
“It’s confounding, to say the least.”
The corn, soybean and sugarbeet producer from Wheaton in west-central Minnesota says it appears China isn’t fully abiding by the phase one agreement.
“Even this morning, I’m scrolling Twitter and seeing record amounts of beans being bought by China, livestock being bought by China. And guess what? It’s not coming from us.”
Beyer suggests China is playing games and the U.S. farmer is suffering as commodity prices plummet.